Keep with with latest business and accounting news with PKF Bay of Islands.

Kia ora,

It's hard to believe we're already past the halfway mark of the year. With the shortest day now behind us, we just need to knuckle down and get through these last few colder months. We hope all our clients are doing well, whether you're enjoying the Winterless North or escaping somewhere a little warmer for a well-earned holiday.

We also have some exciting news to share. As many of you may have already heard, PKF Bay of Islands is moving to a new office! We'll soon be relocating right into the heart of Paihia on the waterfront wharf on Monday, 10th August 2026. We're incredibly excited about this next chapter for our team and our clients. Keep reading below for more details – we'll be sharing plenty more information in the coming weeks.

There's been lots happening in the office too! Outside of work, we've all had plenty going on:

- Wendy recently completed her second HYROX event – an amazing achievement!

- Ann-Maree's son is right in the middle of football season.

- Grace got engaged – congratulations again!

- My daughter recently achieved her Restricted License.

- Janine survived the school holidays... just!

As always, we're here to help. Whether you have a question about your business, taxes, bookkeeping, or simply want to catch up, feel free to pop in and see us or give us a call.

A Quick Reminder

As we work through annual accounts and tax compliance obligations, please keep an eye on your emails for your balance date checklist and request for supporting information. Providing this information promptly helps us complete your annual accounts efficiently and ensures we can meet reporting deadlines.

Thank you for your continued support. We look forward to working with you through the remainder of 2026.

Ngā mihi nui,
Islay Cowles - Practice Manager
PKF Bay of Islands

📍 We're Moving!

We're excited to announce that PKF Bay of Islands will be relocating to our new office on the 10 August 2026.

Important notes for our clients:

PKF Bay of Islands will close for in-person office visits from Monday 3rd August - Friday 7th August 2026. Our team will continue to work from home this week while we make the move.

We will be open at the new address Monday 10th August 2026.

📍 New Address
69 Marsden Road, The Wharf
Paihia 0247

You'll find us above the Fuller's building, entrance on the ocean side.

📞 Contact Us
Phone: 09 402 7926
Email: paihia@pkfboi.nz

We're looking forward to welcoming clients to our new waterfront location. More information about the move, including important dates, a welcome event for clients and friends and directions, will be shared closer to moving day. Watch this space!

NZ Budget 2026: What your small business needs to know

End of Financial Year Checklist

Budget 2026 focuses on supporting New Zealand's economic recovery while aiming to return the Government's finances to surplus by 2028/29. The Government forecasts average economic growth of 2.7% over the next four years, lower unemployment, and wages continuing to outpace inflation.

The Budget's major investments are centred on health, education, law and order, defence, housing, and infrastructure, with funding allocated to projects including hospitals, schools, rail upgrades, roads, and public facilities.

For businesses, there were relatively few major announcements, but some key changes include:

1. Research & Development (R&D)

Faster access to Research & Development Tax Incentive (RDTI) credits through in-year payments, improving business cashflow.
Changes to software development expenditure claims and greater flexibility around RDTI filing deadlines.

2. Foreign Investment Fund (FIF) Changes

The new FIF calculation method for unlisted foreign shares will be extended to all New Zealand taxpayers.
The FIF de minimis threshold will increase from $50,000 to $100,000, reducing compliance requirements for many smaller investors.

3. Fringe Benefit Tax (FBT) Simplification

Motor vehicle FBT rules will be simplified, reducing record-keeping requirements and administrative burden for employers.

4. Tax Compliance

Inland Revenue will receive additional funding to target tax debt and non-compliance activities.
New rules will tax outstanding shareholder loans following company liquidation.

5. Charities and Not-for-Profits

The tax-free income threshold for not-for-profit organisations will increase from $1,000 to $10,000.
Changes are also being made to donation tax credit rules and charitable giving incentives.

Why does it matter?

Reduced compliance costs for investors.
Simpler administration for employers.
Improved certainty around tax obligations.
More time to focus on growing your business.

Key Reminder

While Budget 2026 contains limited direct support for small businesses, the proposed tax simplifications and ongoing infrastructure investment may create opportunities for growth and reduce compliance costs.

If you're unsure how these changes could affect your business or investments, our team can help you understand the implications and plan ahead.

If you have any questions, please do not hesitate to contact us on 09 402 7926 or email us.

Email the team

Preparing for Balance Date: What We Need From You

Now is the perfect time to start gathering the information needed for your 01 April 2025 - 31 March 2026 annual accounts and tax returns. Providing information early helps us complete your accounts efficiently, meet filing deadlines, and identify any tax planning opportunities before year-end.

Key Information We'll Need

Depending on your business structure, we may request:

1. Bank Statements

Your closing bank account statements covering the financial year 01 April 2025 - 31 March 2026.

Loan and credit card statements.

2. Finance and Loan Information

Vehicle loans.

Equipment finance.

Mortgage and other lending statements showing balances at year-end.

3. Accounts Receivable and Payable

Details of money owed to you by customers.

Details of unpaid supplier invoices at the balance date.

4. Asset Purchases and Sales

Information on any vehicles, equipment, tools, computers, or property bought or sold during the year.

5. Stock on Hand

A stocktake or estimated value of inventory held at the balance date.

6. Business Use Information

Home office details.

Vehicle usage records, if applicable.

Any private use adjustments that may be required.

7. Supporting Documents

Insurance information.

KiwiSaver or holiday pay, payroll changes.

Investment income and interest statements.

Any significant business events during the year.

Respond Promptly to Information Requests

Once we send our annual accounts questionnaire or request for information, we ask that you provide the requested documents as promptly as possible. Early responses help us manage workflow, avoid unnecessary delays, and ensure your accounts are completed accurately and on time.

Need Help?

Not sure what information applies to you or your business? Give our team a call. We're happy to guide you through what is required and help make the annual accounts process as smooth and stress-free as possible.

The sooner we receive your information, the sooner we can get your accounts completed and give you certainty around your business performance and tax obligations.